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, people of hawaii, and all americans in paying final respects to an american patriot and hero. senator ioway was one -- inouye was one of the deluxe senators to ever walk the hallowed halls of this great building. he leaves behind a legacy of public leadership and private kindness that will not be forgotten as long as these walls stand, as long as histories are written. it's fitting he should lie in state beneath the enduring symbol of our democracy, the dome of the capitol. and it's proper he should rest upon the lincoln platform upon which abram ham lincoln, president john f. kennedy, rosa parks, and 26 more of this nation's luminaries have lane in state. -- layne in state. dan inouye was an institution and deserves to spend at least another day in this beautiful building in which he dedicated his life. as the second longest serving senator in our history, dan inouye represented our 50th state from the first day it was admitted to the union. but senator inouye's tradition of service began long before he came to the united states senate . he was just a boy when he heard the war planes
christmas vacation in hawaii. congress is back in town, but little progress was made over the holiday to avoid the fiscal cliff and no talks have been set. the senate is due in session today, but the house has no plans to reconvene. last week, house speaker john boehner said it was up to the house to act on extending unemployment benefits. as we work through all of this, we are happy to be joined by allen capper, head of credit strategy at lloyd's for the hour. welcome back. i guess we're still shaking off the christmas turkey tryptophan, i guess they call it, and yet it feels as though it's groundhog's day. >> yes. you say shaking off the christmas blues and we're shaking still waiting to hear what happened with this fiscal cliff. we knew they would take it to the wire. there's no surprises. what concerns me, this may stretch on until january. now, this is not the first time we've been in a situation like this in my career in the markets. the opportunity is clearly markets may sell off and then an accord has to be reached. i guess a lot of people will be seeing that. >> what are you
military medical center. hawaii has never been a state without inouye in the body. he first served in the house when hawaii joined the union in 1959 moved to the senate in 1962. by the end of his career he was the most senior member or president pro-tem of the senate making him third in line for the presidency. evidences president pro-tem and he was senior member of the majority party. he was behind vice president biden and speaker boehner. patrick lehey next in line. he joined the senate in 1974. in -- inouye this is what he said marking the pearl har dobo attack december 7, 2011. >> the bombing of pearl harbor 7 years ago began a period of my life when i became i hope a good american. it is something that i will never forget. it changed my life forever. something of interest at this moment. i hope that we will remember december the 7th. i hope we will remember 9-11. that was just a few years ago be people are beginning to forget 9-11. if december the 7th is going to teach us anything, it should be that we must remain vigilant at all times. knotted just to avoid war but vigilant a
are we in the usa imitating failure? did you know that california and new york and hawaii are also poised to hit their richest people with a greater than 50% tax rate? isn't that great? emulate france. here now is jim pethokoukis of the american enterprise institute. jim, i thought we wanted to emulate success, not furl. >> i thought so, too. listen, the president wants to run an experiment and see how high we can crank up tax rates in this country without it hurting economic growth. they're already running it in europe, in france, in great britain. the entire european experiment here has been one of tax hike austerity. even though they focus on the spending cuts, you're talking about a high tax area raising taxes even higher. we're trying to to do the same thing here. >> least the brits have the humility to acknowledge their mistake. they took the rate from 40% 050%. millionaires left the island. now they're coming back and dropping it to 45%. at least the brits have some humility. the french don't seem to have any. those socialists are going to go down with the ship. >> they're going to
. akaka: madam president? the presiding officer: the the senator from hawaii. mr. akaka: madam president, i rise to give me remarks and my aloha to the united states senate. madam president, before i begin, i want to say that my good friend, my colleague of 36 years, my brother dan inouye, hawaii's senior senator, i wish him a speedy recovery and return to the senate. mr. president, i -- i mean, madam president, i rise today to say aloha to this institution. i have been honored to be a member of the united states senate for 22 years. it has been an incredible journey that i never imagined. as a senior in high school going to kamemha school for boys, which was noted as a military school, my life was changed for school. when i saw japanese fighter planes attacking pearl harbor. like most men in my generation, i joined the war effort. my path was forever altered. when the war ended, i believe i was suffering from ptsd. it was an act of congress that allowed me and the veterans of my generation, to build successful new kind of lives. congress passed the g.i. bill and i say with certainty tha
, ms. hanabusa of hawaii, would like to take in memory of the extraordinary senator. i had the pleasure of working with him in the mid 1990's when i was the deputy secretary of the department of interior, we were working on the native hawaiian lands issues. he was a remarkable individual, one that not only understood the intricacies of that very complex situation, but also had enormous passion for the native hawaiians. and so tonight i yield whatever time she might want to take to our colleague from the great state of washington -- hawaii. ms. hanabusa: thank you very much to the gentleman from california. i'm here to honor a state which is unique and as special as the person i honor. the person i rise to honor is daniel k. inouye. a person who cannot be described by a single adjective. a person whose accomplishments would cause you to pause and say, is this one person? is this one man? a person was awarded the greatest honor anyone who serves in the military can achieve, the congressional medal of honor. but it was an honor about 55 years late. from a country that questioned his loyalt
, washington, oregon, california, hawaii has been threatened by hundreds of thousands of tons of debris washing ashore from the tragic tsunami in japan nearly two years ago. that's why this legislation asks noaa to take a closer look at the tsunami debris and make sure we are putting an accurate assessment and risk in place to protect the west coast. if they decide that it is a severe marine debris event, then they will need to present a specific coordination plan developed to meet that threat and work with local governments, counties and tribes and to make sure that there is a coordinated effort to protect our economy and environment from tsunami debris. we know in the northwest because we have already seen ships, we have seen bridges, we have seen various parts float ashore, oftentimes local communities having to share the burden and expense of cleaning up the tsunami debris. with over 165,000 jobs and nearly $11 billion in our coastal economy from fishing to tourism to various activities, we want to make sure that tsunami debris does not hurt our coastal economies. all you need to do is ask
the president's going to be flying back from vacation in hawaii today. a lot of people making something of that. i don't know what it means ultimately. >> well, one thing it means -- >> a show of something. >> if i had to get back from hawaii at a minute's notice, you know what it would be. the president will have an easier time of it, i think. right? >> i noticed a couple of news reports saying the cost of the last-minute flight is about $250 -- >> he's the president, he's allowed. he's not going to be like in -- you know, transferring in san francisco or l.a. or something. and hoping that flight isn't -- i think he can just sort of -- >> the good news. >> he can probably work on the way back. >> yeah. no -- >> at his desk or do what, you know, whatever. he may be able to play sports. there's no basketball court on air force one. right? or putting green? >> no. but i think that -- they might have an xbox or something. >> yeah, if we play virtual golf or -- hoops or something. all right. >>> as for the markets, stocks turning in double digit gains in 2013. nine of the 10 s&p sectors looked in p
very good so far. we know that the president obama, on the way back from hawaii, worked the phones a bit, talking to the top four congressional leaders. speaker boehner, nancy pelosi, mitch mcconnell, and harry reid. earlier today, the senate majority leader sounded frustrated with the republicans in congress. >> nothing can move forward unless speaker boehner and mitch mcconnell are willing to come up with a bipartisan plan to participate. speaker boehner is unwilling to negotiate. we have not heard a word since neither mcconnell. nothing has happened. >> i should note that senator reid was due for a news conference later this afternoon. that has since been canceled. perhaps the senate majority leader has decided to do his talking behind closed doors and hammer out a deal. greg: filled with metaphors, no doubt. what a republican saying about the status of the fiscal cliff negotiations? reporter: they have been pretty quiet so far. we know the speaker of the house and the republican leadership team in the house is due for a conference call with members that are still back in their
senator daniel inouye of hawaii who passed away on monday. leahy is also expected to take on inouye's role as chairman of the appropriations committee. >>> the justice department won't press cyberstalking charges against paula broadwell. federal prosecutors were investigating broadwell after she sent anonymous harassing e-mails to jill kelly, a socialite who knew petraeus. the investigation eventually exposed petraeus's affair. broadwell was also under investigation for handling classified material. while she has been cleared of cyberstalking, justice officials will not say whether broadwell will face other charges. >>> overseas, developing news on the situation in syria where the civil war there has killed an estimated 40,000 people since march of last year. the "new york times" is reporting that russian warships are heading to the mediterranean for what could be the early stages of an evacuation of russian citizens there. while moscow has been a supporter of bashar al assad, there are some signs that russia's confidence in the regime is slipping. news that richard engel was safely freed
. this past friday before the president left for his family vacation in hawaii, he proposed a limited measure to avoid all of the cliff when speaker boehner scuttled his plan b, the president wants to extend the bush tax cuts now for the middle class and try to avoid some of these deep spending cuts on january 1st. a white house spokesperson says today that staff discussions continue between the administration and the hill. in july you may recall the senate democrats passed an extension of the middle class tax cuts if r a year at a -- for a year at a cost of 157 billion. that bill also patched the alternative minimum tax for 2012 for 92 billion, but it went nowhere after that. senate republican leader mcconnell is critical to hammering out a deal because he can filibuster any legislation, but his spokesperson says this morning quote, nothing new to report. we don't know yet what senator reid plans to bring to the senate for a vote. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of
, markup times for bills, votes in and out of the senate. and fax to the president in hawaii. you could do calendar map as much as i can, it gets to be unlikely and darned near impossible. and for the former u.s. controller general david walker, it gets worrisome. it looks to me a chance of showing some semblance of order that gone out the window, what now? >> there is a reason it was called plan b . what we need to do is pursue plan a. we can still have a chance to get a plan a. but to get a plan a, the president has to be more forth coming with regard to spending reductions. what needs to happen is we need to be able to avoid the fiscal cliff. have a meaningful down payment on revenues and spending reductions, including mandatory spending and build a bridge to get a grand bargain in 2013. the conservatives are out of touch with reality, if they think that taxes are not going up for people over a million dollars, the real problem is we have to do more on the spending side. and the president has to be more forth coming in that regard. neil: very well put. you harken back to something i hea
. criminal charges against him were dropped. >>> the state of hawaii is no longer 50th in voter turnout. it's tied for 49th with west virginia. this time around, they've got company at the bottom. both west virginia and hawaii tenned out 44.2% of its voters in 2012. >>> the duke of cambridge decided to cancel a scheduled appearance at a military event to be with his pregnant wife. katherine has been battling acute morning sickness. they are supposeded to attend the royal premiere of "the hobbit" tomorrow but the daily mail says katherine may not be well enough to go. >> if he skips the hobbit for her, that is true love. i'll be impressed. >> thank you. 17 minutes past the hour. time for early reads, local news making national headlines. we're starting with the charlotte news and observer in north carolina where a federal judge ruled the state cannot issue choose life license plates without offering ones with different view points. he called it viewpoint discrimination and violation of the first amendment. pro-choice advocates and the aclu praised that decision but the ruling suggests, they
. >> he's also a black guy from hawai'i who used to surf. >> cenk: most importantly, he used to smoke. >> that's what i'm saying into that's what drives me crazy. at least the last three presidents smoked marijuana. they didn't serve any jail time. they became president of the united states. and you served nine months. >> not only a pot smoker, but cocaine user, george bush. >> cenk: yes. >> the hypocrisy are bedfellows. >> cenk: i heard you took the plea deal to spare your son and your wife. >> that was--that's what they told me because legally i was clean. they couldn't touch me because the most iowas my face on a bong. >> cenk: it's not like tommy was dealing drugs or anything. you were selling bongs. >> legally selling bongs. we had a factory in gardena california. we were paying taxes. there was a little law that was only used once on me, i think a paraphernalia law that said it was illegal to ship paraphernalia across state lines. that made it a federal offense. by the way joe biden wrote the law. >> cenk: i hope you're right. biden and obama don't have a great record on this. l
family gathered in hawaii for a service on the uss arizona memorial. lane's ashes inside an urn made by his son tom were carried by scuba drivers and entombed in gun number four. right given to all survivors of the upp ship. >> he never called himself a hero. peel would go you are such a hero. he said no, the heros are still down in the ship. >> william la jeunesse, fox news. >> john: after the attack, lane spent ten days on a hospital ship recovering from his wounds. this will tell you why he swam to theness. he was dedicated. he returned to service fighting battle of coral sea and midway. a the war he stayed in the navy and flew missions as part of the berlin air lift and served in vietnam. free speech could cost one consumer close to $1 million. they make millions off the 99%. but do music stars put their money where their mouth is? grapevine is coming up next. >> john: political grapevine. reply all failed from the police department. atlantic monthly reports a television producer worked on story about animal trafficking a month after the lapd held a press conference promising to
, they talked very nicely to one of the passengers, probably offered him, i don't know what, flights to hawaii or something, just to accommodate me in first class. >> you automatically get up graded now? i mean, do you have to pay for first class? or is it all coach -- >> i buy first class because it's important for me to be comfortable with all the flying i do. like i said, people say oh, how can you do it? i fly first class, and united, by the way, they have cnbc, "squawk box," on the flight this morning. >> they do. >> yes, they do. quite a few flights that show your show. >> what do you mean you fly first class? you don't pay first class? >> i negotiate a rate because of the extreme amount of travel i do. >> does anyone really pay those first -- i mean -- >> people do. >> not as much. they -- obviously upgrades is a very popular commodity -- >> upgrade frequent flyers? >> you can upgrade with miles. you can copay. there's a lot of different ways to upgrade. the average flyer kind of ge gets -- kind of has been spoiled through, you know, before united went bankrupt -- >> spoiled? i don't th
his hawaii vie cation today. at the top of this hour, expecting any minute on the senate floor that harry reid might come and give us some comment and guidance here on where to expect fiscal cliff talks to go over the next 48 hours or so. we know that the house of representatives will not be in session today but speaker bain he or she conferencing in his colleagues on a phone call this afternoon, all that up against a monday deadline. now we are told by game leadership that they will advise their numbers by saturday if they are going to bring them back into washington for a vote on anything on monday if there is a deal. there you see the united states senate is coming into session is this morning. we are going to keep an eye out for those remarks from senator reid, and of course, remarks on this fiscal cliff debacle have been moving the markets throughout the past couple of weeks, wait and see what harry reid has to say. guys, not a whole lot here to give those guys consumer confidence. >> the essence of poll takes what what we are seeing now this is no surprise, push comes to
in hawaii. the senate is coming back. the house of representatives meanwhile is going to hold a conference call for all republicans later on today. but it's not clear that all these folks, including the president, are going to have much to do when they do come back to town. there's no deal pending on the table here on the fiscal cliff and we're creeping up here on new year's eve. and then yesterday, as you just mentioned, treasury secretary tim geithner really upped the ante in dramatic stakes in the fiscal cliff end game by saying that the united states is going to hit its borrowing limit on monday. now he said the treasury can put in place some extraordinary measures and it has some wiggle room there but he said that the doubt and uncertainty over the fiscal cliff really clouds the prospect of exactly when the united states is going to hit its debt ceiling, statutory borrowing limit. so, that all adds a whole element of drama to all this. and it's really not clear, guys, at this point, how this thing is going to get resolved. but the house has said that it would like the senate now to go
think that we're getting down to the wire here. president obama doesn't want to cancel his hawaii vacation, and harry reid's threatening to keep congress in session, again, for the third year, fourth year in a row. that could have been one of the things they talked about. but at this point, i'm not quite sure if boehner can really get a deeper spending cut deal. i think the most he's going to be able to get is a promise. >> keith boykin, the other thing when i was down in washington yesterday, on the phone with all these guys, is that basically the republicans are going to cave in. basically they're going to cut their losses. basically it's a strategic retreat, that's what i call it, and they will give the president, they will give him his middle class tax cuts, or extended tax cuts and the top rates are going up. now, what the gop gets in return for that i do not know. but i see a cave-in, keith. >> i think you're right. they have no choice, larry. i mean, there's no leverage. the tax rates are going to expire on december 31st, so on january 1st, regardless of whether they do not
continues to fester. >>> also, senator daniel inouye of hawaii passed away this afternoon at age 88. inouye was a senator for 50 years. he was a world war ii hero as well. inouye was awarded the medal of honor for actions he took in italy in 1945 as a member of the legendary 442 combat team composed entirely of japanese americans. may senator inouye rest in peace. >>> now back to some stock market work. stocks continue to discount a fiscal cliff solution of some kind. as i've suggested, they're reacting positively. how about a little optimism on that story? up next, some optimism. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? come pre-filled with problems. enough is enough. intro
between the 18th and christmas. i guess president obama is scheduled to go to hawaii later in the month. i think he probably has a deadline before that date, but we'll get some sort of a decision. i have a feeling that we're going to go over the cliff. it's not going to be the end of the world for the economy. i think business has been talking for years now, a couple years now about the need for certainty, and if this, the fact that we do go off the cliff provides a certain amount of certainty for business. and a $500 billion down payment on the deficit and the debt, i think, is actually a nice piece of certainty for business so that they can plan for 2013 and 2014. it will mean an exceedingly weak first quarter next year, but i think throughout the year economic growth will get stronger. david: well, but, michael, on the other hand, sometimes if i'm certain somebody's dead, that won't bring them back to life. sometimes certainty is not necessarily good news. you say that the market is rather than on the negative side rather than on the positive side, and if we do go over the fiscal cliff,
the most category? taking into account mortgage size and income. borrows in hawaii and washington, d.c. get the greatest benefit. from 3 to 5%. california hard hit, losing that reduction could hurt a lot. talking about hard hit, take a look at arizona, nevada and florida. does that really affect home buying when the bulk of buyers in those states are investors who don't use mortgages? the answer, probably not. now i want it highlight new york and new jersey. they are on the high end of what you get from the tax benefit. and they desperately need buyers. two states have huge foreclosure backlogs. they need brisk buy flg order to eat up that distress. we want to keep that in perspective. people say taking away this deduction will raise home prices and drop purchasing power. but we have to remember that the interest deduction is used by 27% of borrowers. what is interesting is that older americans are getting hit with it more because they usually would move out of their large homes by now and they today stay in place because they weren't able to sell during the housing crash. guys? >> diana, d
and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother was still alive, cincinnati versus here, she would see like ten cars an and go oh, i can't believe people -- if she had seen the line of buss that basically was a wall of about 60 buses, they get precedence to go in, and then like 16 other lanes getting down to one to go into the tunnel, and you're just sitting there, like no within in the world does this. >> i got stuck in a broken down truck in the holland tunnel last night. it's amazing how fast they get that truck up and out. >> they better because there are fumes and everything else. but if you try to go from pasadena at the wrong time in l.a., it's three hours. in other news out of the financial services industry, jpmorgan is naming co-chief control officers the new positions ar
when they hit hawaii? i hope ed henry is okay. surfers tell their dramatic story. kelly: plus a high-tech mystery going on in iran. did it come under major cyberattack or not? we'll go in depth next there is no mass-produced human. so we created the extraordinarily comfortable sleep number experience. a collection of innovations designed around a bed with dualair technology that allows you to adjust to the support your body needs - each of your bodies. our sleep professionals will help you find your sleep number setting. exclusively at a sleep number store. comfort individualized. save 50% on the final closeout of our silver limited edition bed plus special financing through new years day. kelly: a desperate search for a 10-year-old girl in las vegas. last seen with a suspect wanted in a casino stabbing. the effort to find her safe and alive. >>> and new criticism over president obama's reported pick for secretary of defense. the backlash coming from the right and the left over the potential nomination of chuck hagel and whether it could make him bail out. >>> and serious health warn
to participate. it's disappointing. we would have been better off if he stayed in hawaii golfing. >> "new york times" writer david brooks said president obama governs like a visiter visiter a morally superior civilization. successful presidents use force of their personality to persuade. clinton was like that. ronald reagan did that too. is that what this president is missing? >> it is, his strategy has been to stay out of the fray this weekend because he wants the blame to be on congress, which has about a 10% approval, versus his 55% approval. the president a not good and arm twisting. he knows he won the election and has public opinion on his side. he believes sooner or later the republicans will cave. >> here's the beef. republicans say you want $600 billion in new spending, which would absolutely negate the 600 billion-dollar in new tax revenue, so this doesn't -- this is a deal that's got no beef. where's the peeve? it doesn't attack -- beef? it doesn't attack debt and deficit. >> they're raising taxes and increasing spending. this is how we get into this mess. i can't believe this is th
that would have a calculated rate would be hawaii. three percentage points to the marginal state income tax rate. we will have entrepreneur ethan anderson coming up, maybe tomorrow, to talk about what that does for business. connell: the tax man is for amazon. the irs calling for back taxes after accusing the company of avoiding billions of dollars of taxes in the united states and europe. the accusations, after amazon bought a home in luxembourg and channeled their sales through it in order to create a tax shelter for the american and european governments. the stock by $0.24. dagen: make sure to wash your hands before you check out. according to a new survey, 16% of online holiday shopping is conducted on the pot. from the toilet. in the john. more than 38 million adults admit to shopping with their pants around their ankles. the study did say men are more likely than women to shop when they are on the pop. the study comes to us from cash starved. that is disgusting. connell: that is multitasking. great video. dagen: they always talk about your phones being really nasty. connell: the dirti
inside the u.s. capitol building today. the beloved senator from hawaii was the second longest senator in u.s. history. back to connell. connell: breaking news out of washington right now. eric cantor just roughed up some comments. there he is. they just roughed up a few moments ago from capitol hill. on the boat tonight that is expected on the plan b -- cantor saying they just wrapped up. i believe two days after christmas, they will be back to talk about this. also another breaking political story. the mayor of newark, new jersey, cory booker is going to run for senate. he will run for senate in new jersey in 2014. why is that important, well, there has been a lot of speculation that he may run for mayor and take on governor chris christie and new jersey. okay. now, back to business. apple in the news today. you have u.s. authorities rejecting the pinch to zoom. you can see the feature now. it allows your fingers to zoom in and out. back in august, a jury ruled that samsung had infringed on six apple patents. they awarded apple over a billion dollars in damages. this ruling wiped out
, isn't it? >> the president is scheduled to go to hawaii a week from today. >> it's boehner and obama. >> there are things, there's a telephone. understand, they have phone service in ohio and hawaii. >> there's an urgency here that dave cody gets. why? because he has said, i'm not hiring until we get this stuff fixed. now, why doesn't that -- well, everybody, the job, small business job creator. come on, man. honeywell hires. that means other towns do great. that means you get into a very virtuous cycle mode. david, it is not about the small businessman. the little businessman doesn't do well unless the big businessman does well. >> who are they selling to? >> honeywell just hired 200 people. >> no doubt about it. >> the opening bell here at the new york stock exchange for a friday. top of the screen, the s&p 500. nasdaq, avago technologies. >> single-family rentals, homes for rent, single-family rentals, that's the way it's sort of getting all that notion, at least today that some people are locked out of credit. they are renters, or renters nation. >> the real estate investment tru
in hawaii to cost the taxpayers $4 million. he is just going to blame the republicans and let the taxes go up on everybody. host: grace says -- guest: medicare's costs have grown slower than the private insurance market. even though it is a big expense for the federal government, it would be even more expensive if we were growing at the same rate of private insurance. medicare has millions and millions of patients and to negotiate much lower rates. on the flip side of that, the issues we talked about earlier about doctors not wanting to participate. medicare has a huge population so they are able to streamline a lot of the education costs. host: another comment on our twitter page -- guest: malpractice is an issue that came up in the health care debate but did not move for that much. it is one solution that might make doctors more comfortable in their practice, that they are now worried about getting sued all the time. most of the estimates show it most of the estimates show it would be relatively small in the world of health care spending. it is something that comes up in the debate. host
lives here, in chicago. and your aunt lisa lives here, in baltimore. uncle earnie? waaay out in hawaii. but don't you worry, we will always be together for christmas. [ male announcer ] being together is the best part of the holidays and cheerios is happy to be part of the family. you just ate dallas! >> announcer: ladies and gentlemen, it's "the stephanie miller show." ♪ i'm walkin' on sunshine ♪ ♪ i'm walkin' on sunshine ♪ ♪ and it's time to feel good ♪ ♪ hey, all right now ♪ ♪ and it's time to feel good ♪ >> stephanie: don't ask me important questions before i'm about to go on. i'm getting in character. i'm nervous. it's show time. >> i'm talking to you about show stuff. not your party this weekend. >> stephanie: shouldn't we be nervous? the show is about to begin. >> it has been eight years. come on. >> stephanie: happy monday. jim was at my party this weekend. he said the funniest thing when he came in. >> i had to leave early a because i was exhausted. i had a corporate gig in anaheim
counterparts there. just yesterday in my headquarters, the deputy chief of the pla navy was in hawaii at my headquarters receiving briefings on the future activities that our navies will do together, looking, talking to the issues at the rim of the pacific exercise which you mentioned that will happen in 2014. we have a growing ability to have a dialogue at the military level that is frank and open. and we do that through consultative talks that we do on a periodic basis. and then we build a calendar of events on the areas where we think will have the most opportunity to have success working together to we build a calendar of events, and so far we're having a very good record on meeting those objectives, and actually completing them. right now i believe, timeframe exactly but there's an exercise that we are doing and a bilateral way between the u.s. military and pacom, and the pla. so i just sent letters to my counterparts congratulate them on their promotions. and hoping that we continue to have a good an open dialogue. because in the end, you know, we have the responsibility, the pla and
counterparts there. just yesterday in my headquarters, the deputy chief of the p.l.a. navy was in hawaii in my headquarters receiving briefings on the future activities that our navys will do together, looking and talking through the issues of the rim of the pacific exercise of which you mentioned that will happen in 2014. we have a growing ability to have a tie log at the military level that's frank and open, and we do that through consulted talks we do on a periodic basis, and then we build a calendar of events on areas we think will have the most opportunity to have success working together. we build that calendar of events, and so far, we're having a very good record on meeting those objectives and actually completing them. right now i believe there's, in this time frame, i don't know exactly, but there's an exercise that we are doing in a bilateral way between the u.s. military and pay con and with the p.l.a. so, i just sent let the record show to my counterparts congratulating them on their promotions and hoping that we continue to have a good and open dialogue. because in the end, we ha
saved on at least $2,000 with this deduction. on the flip side, borrowers in washington, d.c., hawaii and california, they're getting the biggest tax benefit in the $3,000 to $4,000 range. new york and new jersey are also way up there, thanks to high home values and income. and i'm noting them because these two states need home buyers, desperately. they have some of the biggest backlogs of distressed properties and need buyers in there absorbing that distress. taking away the deduction takes away one more reason to buy. $2,000 to $5,000 a year is a big savings. but we have to keep this in perspective. you only get the deduction if you itemize an only about one-third of americans do itemize. just 27% taking the deduction. and i want to note one other thing, older americans, 54% of families ages 55 to 64 are carrying mortgage debt. that's way up from 37% in 1989, because during the housing crash they were unable to move. so that's going to hit them hard as well. especially for the next several years. melissa? >> some very interesting figures. diana, thanks for that report. back at headq
is confirming that it has plans for a sed set country in india. >>> but first, the hawaii senator daniel inouye died at the age of 8837 he's a veteran and war hero. he was the senate pro item. >>> welcome back to squawk this morning. applemaker is confirming plans for a hand set factory in indonesia. foxconn now saying no timeline has been set. it would cost $5 billion to $10 billion following worker deaths, sudz and other things foxconn and apple has set pledged to bridge a new building steemt. >>> leo g ray kowski is the asset managements. really, leo? do you oversee $178 billion? >> i have a lot of help, swroe. >> that sounds like you would have a lot more wrinkles and look a lot more haggard if you had that responsibility. if we get a cliff deal which is looking closer, are our problems over in terms of this sort of market that's been stuck in the mud for a decade, do you think? >> i think a lot depends on time frame, but no is the short answer to your question. i think, you know, markets being discounting mechanisms, i think it's very unlikely that here in the short-term, we get the type o
of minutes. in the meantime -- >> they are gentlemen. >> in the meantime, the president is in hawaii on vacation. washington lawmakers are on holiday. there's still no deal to avoid the fiscal cliff. the deadline is a week away. hampton pearson is in washington on the stalemate. >> as early as the day after christmas, congress and the white house will have to start to deal with what president obama called the real consequences of going over that fiscal cliff. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. there are real world consequences to what we do here. >> a short-term deal won't just focus on tax rates. the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the weekend, we did hear from some republican moderates who say it may in fact be time to make some kind of a move. >> the president's statement is right, no one wants taxes to go up on the middle class. i don't want them to go up on anybody. but i'm not in the majority in the united states senat
affected. but also hawaii, a big percent comes from defense spending. the green is nondefense. ala kass, new mexico, kentucky. so we talk about $620 billion being spread across the economy that will be individual hits to individual states and individual people that will be hit harder if this qulif does take effect. >> some sobering numbers. >>> the phrase that got the most nominations on the list of words to be banished, fiscal cliff. so we want to know what other phrases should be banned and why? tweet us. we have your responses coming up next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... i've always kept my eye on her... but with so much
. the president is going off to hawaii shortly. they maybe have two weeks left, and it's not the time to get through a complex policy issues because you will give them the short shrift. i think they should extend them for some time, whether that is when this the art expires. that gives them the more hard times when things, you know, hard deadlines when issues need to be addressed. i do think that there are these -- and i mentioned them. because we work together for so long, there are listed everywhere that i would. these are strongly agree to a bipartisan issues, raise the retirement age for medicare, reason for social security as well, and exit to longevity, take care of the cola. take care of reducing subsidies in medicare by further means testing premiums which exist today at a premium for part a. consolidate the premiums for all three of the programs. and then there is further means testing that could actually be done in social security through progressive indexing in things like that. those are things that have been talked about around town and the policy communities. you could do a bil
an electromagnetic pulse because a lot of disturbances in hawaii which is about 800 miles away. the soviets had a lot more experience than we. they actually developed -- we designed them but never built them, enhanced e.m.p. weapons. a single large nuclear -- i shouldn't say that. because it doesn't have to be a large bomb. because it could be a relatively small bomb that's e.m.p.-enhanced. a single appropriately bomb detonated three miles high over nebraska or iowa would prank et our whole country and -- blanket our whole country and if the e.m.p. lay down was robust enough, it would essentially fry all of our microelectronics. the grid would be down for a year or more. and your car wouldn't run and there have been a couple of books writ on that subject. one i would -- written on that subject. one i have read which is an easy read and i commend newt gingrich, he brought the author to my office and he mentioned this on the campaign trail, thank you, newt, this was a book called "one second after." i came to my office one day and there was a big book on my desk and there was a hand written note on it
to the funeral of senator inouye and that has created that service that will take place in hawaii has created a challenge for us when it relates to the schedule itself. we understand this is a difficult, difficult time. but we need to work together to put into place pro-growth economic policies. i think that there, as i said in my opening remarks, a bipartisan quest to do that. i congratulate the president for his call in reduction from the corporate tax rate from 35% to 25%. real tax reform. something we have been trying to do for a while and i think can be done in a bipartisan way. real entitlement reform that does not hurt our fellow americans is something that can be done in a responsible way. so i will simply say that this is not a perfect process. but it's end of the session process going on right now to deal with a tough, tough situation. we don't want our fellow americans to be hurting, especially at this time of year as we look towards the christmas holidays. and i believe that we can see an agreement which will work to ensure that that does not take place. so, mr. speaker, i urge my
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